Poplar Forest Capital LLC Reduces Position in Intel Co. (NASDAQ:INTC)

Poplar Forest Capital LLC reduced its position in Intel Co. (NASDAQ:INTC) by 43.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 667,123 shares of the chip maker’s stock after selling 512,813 shares during the period. Intel comprises approximately 4.9% of Poplar Forest Capital LLC’s holdings, making the stock its 3rd largest position. Poplar Forest Capital LLC’s holdings in Intel were worth $33,523,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. raised its holdings in Intel by 5.9% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 95,412 shares of the chip maker’s stock worth $4,794,000 after purchasing an additional 5,350 shares during the period. Atria Wealth Solutions Inc. boosted its position in shares of Intel by 43.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 355,202 shares of the chip maker’s stock valued at $17,849,000 after acquiring an additional 107,581 shares during the last quarter. Wynn Capital LLC purchased a new position in shares of Intel in the 4th quarter worth $1,632,000. Bfsg LLC bought a new stake in shares of Intel in the 4th quarter valued at approximately $82,000. Finally, Harvest Fund Management Co. Ltd increased its position in Intel by 64.6% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 56,130 shares of the chip maker’s stock valued at $2,820,000 after acquiring an additional 22,025 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Intel Stock Performance

Shares of NASDAQ:INTC traded up $0.22 on Wednesday, hitting $34.50. 53,139,284 shares of the company were exchanged, compared to its average volume of 47,006,406. The firm has a market capitalization of $145.87 billion, a P/E ratio of 88.46, a price-to-earnings-growth ratio of 3.09 and a beta of 1.00. The company has a current ratio of 1.54, a quick ratio of 1.15 and a debt-to-equity ratio of 0.43. Intel Co. has a 1-year low of $26.85 and a 1-year high of $51.28. The stock’s 50 day moving average price is $41.29 and its 200 day moving average price is $42.30.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Intel had a return on equity of 1.64% and a net margin of 3.11%. The firm had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Intel’s revenue for the quarter was up 9.7% on a year-over-year basis. Sell-side analysts predict that Intel Co. will post 0.61 EPS for the current year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Wednesday, February 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.45%. Intel’s payout ratio is currently 128.21%.

Analyst Ratings Changes

INTC has been the topic of a number of recent analyst reports. Citigroup reduced their target price on Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th. Bank of America decreased their price target on shares of Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. TD Cowen decreased their target price on Intel from $45.00 to $42.00 and set a “market perform” rating for the company in a research report on Friday, January 26th. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Intel in a research report on Wednesday, April 3rd. Finally, UBS Group raised their price target on Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Four analysts have rated the stock with a sell rating, twenty have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $42.38.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 3,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was bought at an average price of $43.36 per share, with a total value of $130,080.00. Following the completion of the acquisition, the chief executive officer now owns 28,475 shares of the company’s stock, valued at $1,234,676. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Patrick P. Gelsinger purchased 3,000 shares of Intel stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the transaction, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Patrick P. Gelsinger bought 2,800 shares of Intel stock in a transaction on Thursday, February 1st. The shares were purchased at an average cost of $42.74 per share, with a total value of $119,672.00. Following the acquisition, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

Intel Company Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.